Under contract
ACTIVE UNDER CONTRACT
202 N Loudoun St
Winchester VA, 22601
$8,672,000
$249.99 per sqft
Under contract
ACTIVE UNDER CONTRACT
34,689 sqft
Commercial
Built in 1986
We are pleased to offer for sale 202 N Loudoun St in Winchester, VA. This 34,688 SF building, built in 1986, will be sold fully leased to a credit tenant for a period of 10 years from the date of settlement. The lease agreement is absolute net with the tenant responsible for all building maintenance, repairs, and replacements. All triple net costs will be paid directly to the vendor, provider, and/or taxing authority. The new owner will enjoy monthly rental payments deposited directly into their bank account. The asking price represents a 6% cap rate and reflects the financial strength and stability of the tenant, low vacancy of the submarket (3.2%), long-term lease (10 years with two 5-year options), and value of improvements made by the tenant. The tenant will be replacing the building's HVAC system within the first year of the lease term at a cost of over $1.2M.
The property has its own private parking lot with 25 spaces and is directly across the street from the Old Town Winchester Walking Mall, which feature numerous dining and shopping amenities. The Winchester City office submarket has extremely strong fundamentals compared with the rest of the DC metro area. Vacancy has average 4.37% over the past 10 years with over 24% rent growth over the same period. No new supply has delivered since 2014 and no new construction is in the pipeline.
FOR MORE INFORMATION, PLEASE SIGN THE CONFIDENTIALITY AGREEMENT
VAWI2005940
MLSⓇ ID
July 8, 2024
Listed
December 16, 2024
Updated
Map
202 N Loudoun St
Winchester VA, 22601
Interior Features
Interior Features
Elevator
Appliances
Electric Water Heater
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central, Natural Gas
Exterior/Building Features
Lot Size
0.72 Acres
Sewer
Public Sewer
Other Property Details
Taxes
$63,012
Tax Frequency
Annually
Days on Market
162
Garage
No
Parking Total
25
View
No
County
WINCHESTER CITY
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
12/16/2024 | Under contract | — |
Listed by CENTURY 21 Commercial New Millennium
Listing Contact: 7039437079
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Data last updated on 12/16/2024 at 7:50 PM UTC